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issues in difficult american foreign policy. when do we get involved in an atrocity going on within someone else's country. that's a very tough question. would we have intervened in germany in 1938 if we knew what was going on. i think we all like to say we we d have and if we could, would have stopped it. it presupposes and the implication is we have a right do that anywhere in the world if there's an atrocity going on. that a u reflect on little bit? >> thank you, senator. defined one t significant kpant issue -- of militaryal basis intervention in the country. certainly every nation has a themselves in t their own history of self-defense. but to answer your question, you of the dimensions of his that you laid out, as did amplify on psey who cuts back ations and on the quell, when do we do this. what basis? we canthere a frame work follow? y answer is you start with the realities. these are both imperfect different situations. out, i dempsey laid think, rather clearly some of he dimensions of each of the countries in that region. self-interest. you have others who have self-inter
right or wrong, you'll never get in trouble. if you want to be critical of foreign policy because you belief, as a citizen -- remember, we have a thing called the constitution. all men are created equal. everybody, at least from the beginning, white, male, 2 1, with property, could vote. since then we've expanded -- well, i'm not being sarcastic because in terms of the world to have any white male who was sovereign, that we were sovereign. the american revolution declared the people sovereign rather than a king or queen. you couldn't have a king or queen taking your land away because they had finch it to you through sovereign rights. so if every citizen has a right to say what they should or should not do in our government, we would think we could respect that, and yet at the very beginning of the iraq war, when susan sarandon and tim robbins spoke out against the war, they had their invitation to talk to the baseball hall of fame withdrawn. and right after that i had a crew from fox news come to my house to interview me, because i don't go to the studios anymore. they want me? they
think for the foreign exchange market, it's more a question of policy action. and now, because we're in this limbo, that leaves sterling a little bit of limbo. >> meanwhile, the treasury there is targeting sales of 4 to 5 billion sales in six-month and is 1-month t bills. yes, same with italian yields, as well, michael. are we now at the low point in the cycle for spanish and italian yields? who is going to drive them lower from here and why would you? >> i think the market has seen a lot of liquidity expansion. first from the fed and then lastly from the bank of japan. and combined with the renewed commitment from the ecb to protect the euro, this has depressed yields to these kind of levels. i think it's difficult to see us going dramatically further. and if anything, strategically, we think that the three major problems in europe, the recession, inconsistent crisis management and rising political and social backlash against austerity are likely to come through and that leaves spain and italy very vulnerable to a sharp increase in yields. we're looking, for example, for 10-year
incentive to buy many of the things is rising sharply, including foreign bonds. and i think certainly the strength of some of the so-called core markets in europe, like france, for example, the past few weeks, probably greatly are due to the shift in japan's policies and maybe it's also starting to shift a bit into the periphery. against the background of the ecb from what i can see preparing the grounds for possible further move of monetary expansion themselves. >> right. yeah. >> so the peripheral narrowing makes a lot of sense. german yields are at such low levels, i wouldn't want to be rushing to put some of the o'neill trust in there. i think the spread timing going on with it makes a bit of sense. >> it's just interesting, as you say, tu look at what japan is doing and the attention shifting now to not just what they hope to achieve, but whether they'll actually be able to accomplish it. after averaging 0.6% deflation for the last couple of decades, are they going to hit 2%? is there, you know, a reason why people here, after the rallies that we've seen, should be a little bit m
Search Results 0 to 3 of about 4